Packers:
2 picks, neither I own, both look interesting. If you have more info, please share it with the group
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First Pick:
SPCH - Sport Chalet (closed today 7.75 on 24k traded)
Shares Outstanding 6.5 million
Float 1.8 million
News Release tonight:
Sport Chalet Annual Earnings Jump 68% - Third Consecutive Record Year
LOS ANGELES, May 19 /PRNewswire/ -- Sport Chalet, Inc. (Nasdaq: SPCH),
announced record operating results for its fiscal year and fourth quarter
ended March 31, 1999, representing the Company's third consecutive record year
for both sales and profit levels. Sales increased 8.1%, from $143.0 million
to $154.6 million. Comparable store sales increased 3.2% for the fiscal year.
Gross profit as a percent of sales for the fiscal year increased from 29.9% to
30.8% while selling, general and administrative expenses increased from 24.9%
to 25.2%. As a result, net income increased by 68%, from $3.2 million to
$5.4 million and diluted earnings per share increased to $.80 from $.49.
For the quarter ended March 31, 1999, net income increased to $1.3 million
from $281,000 and diluted earnings per share increased to $.19 from $.04, the
result of a 5.4% increase in sales over the same period last year from $37.1
million to $39.1 million, and reduced compensation expense related to employee
stock awards during the prior year's quarter which were not repeated during
the same quarter this year. Comparable store sales increased 0.9%. Gross
profit for the period increased marginally as a percent of sales from 30.9% to
31.1%, while selling, general and administrative expenses increased from 25.8%
to 26.2%.
"In a year where consolidation and losses occurred among several sporting
goods retailers, we are pleased with this year's results," said Craig Levra,
the Company's President and COO. "The substantial increase in sales and
earnings were achieved despite the absence this year of abnormally wet 'El
Nino' weather conditions which stimulated sales of winter related products
during the final two quarters of last year. With a strong balance sheet, the
Company is positioned to grow in Southern California. We are scheduled to
open three stores this year, along with our new E-Commerce store this fall,
sportchalet.com. In addition, there are more productivity improvements in
process. We plan to implement a strategic technology plan for our information
systems to provide greater support and control to our stores and our buyers,
to restructure our advertising and marketing programs, and to focus on
improving our warehouse and distribution systems," he continued.
Norbert Olberz, Chairman of the Board and Interim CEO, added,
"Improvements in operating efficiencies, a focus on customer service and the
Company's earnings provide us with the opportunity to implement strategies
designed to achieve greater growth potential and realize the appropriate stock
valuation."
The Company's annual report will be available in late June.
Sport Chalet is a leading operator of full service specialty sporting
goods superstores in Southern California offering over 35 services for the
serious sports enthusiast, including ski rental and repair, full dive training
and certification programs. SCUBA charters, team sales, racquet stringing,
and bicycle tune up and repair through its 19 locations.
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Second Pick:
I am sending pieces of 2 different NR, they don't come up on Yahoo, but do on the Carlson Canadian system. Looks like a diamond in the rough at this point .. o/s = 65 mil - float ?? (I am looking). Trades around .48 Trades 180K to a million shares a day (V.UBS)
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MARKHAM, ON, May 17 /CNW/ - Unique Broadband Systems, Inc. (UBS: VSE)
announces that the Company has begun planning its move to NASDAQ. With
most of the Company's business generated from the United States and internationally, it
makes perfect sense to be listed on an exchange that will be more suited to its profile.
As the leading North American supplier of Digital Audio Broadcast systems,
concurrent with the rollout of the Satellite Digital Audio Radio Systems (SDARS) in
the United States, the Company is in a position to take advantage of the opportunities
that lie ahead.
There has been an increase in investment activity from the United States in the past few
weeks, both on a private basis and institutionally. The Company has been receiving
many calls from brokerage firms in the United States and Europe inquiring into the
status of current bids and our involvement in the wireless industry in general. Being
listed on NASDAQ would definitely give the Company much more exposure to a
larger investment community.
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MARKHAM, ON, April 29 /CNW/ - Unique Broadband Systems, Inc. (VSE: UBS)
has established Unique LLC registered in St. Petersburg in Russia to market the
Company's MMDS, DAB, MVDS and cable products in the former Soviet Union.
We are pleased to announce that Dr. Harry Baindurashvili has been appointed General
Manager, and will be located at our office in St. Petersburg. He joins us from his
recent position as General Manager of Viewsonics-Russia. He brings with him
extensive experience in domestic and international distribution and has been
responsible for the installation of more than 15 MMDS systems.
''Harry's dealer and sales contacts in Eastern Europe and Asia make him a valued
addition to our international team. With his assistance, UBS has had its equipment
certified by the Russian State Committee of Communications, which is a major step in
est ablishing business in Russia'', stated Alex Dolgonos, President and CEO of Unique
Broadband systems. Unique Broadband
Systems will be exhibiting its equipment at SVIAZ-EXPOCOM-99 in Moscow from
May 11-15, 1999. This show is the Russian equivalent of NAB.
The Company has signed its first two contracts in the CIS. The first contract is to
provide all initial digital MMDS system in Kishinev, the Capital City of Moldavia. The
second contract is with KhazaTelecom, for the provisioning of a national digital
MMDS system for the transmission of high-speed Internet and data. Due to the lack of
telco infrastructure in Russia, there is no means of high-speed data transmission and to
this extent
UBS will be supplying systems to service providers to facilitate this growing business.
UBS is currently building a similar system for a leading Canadian Telco.
As a separate issue, UBS announced plans today for the Company to develop a high
speed wireless Internet delivery system for fixed and mobile wireless applications. This
development will utilize the COFDM technology developed over the past three years.
The Company feels that it will have the only solution which will have the capability of
providing high-speed transmission of greater than 2 megabits per second of data to a
moving vehicle.
Unique Broadband System, Inc. is a recognized world leader in the design,
development and manufacture of broadband wireless and other solutions that serve the
service providers, telecommunications and broadcast industries With headquarters in
Markham, Ontario, UBS markets its products globally, providing 24X7 support.
Unique Broadband Systems is a trademark of Unique Broadband
Systems, Inc. For additional information, visit the Company's web site at
www.uniquesys.com
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